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real estate market

Discussion in 'Reality Check' started by HairyAss, Mar 3, 2022.

  1. David Puddy

    yeah, that's right

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    markets continue to shrink in inventory and demand higher offers. a house in bedford went for 1.2 with a 499 asking price last week, houses around me are not unheard of to fetch double over asking. it will be interesting to see how the rest of the year plays out, but at this rate we might sell our rental of its got a possibility of fetching a big profit.
     
  2. PirateSteve

    Moderator

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    Careful on those capital gains
     
  3. HairyAss

    HairyAss
    [OP]
    Cheese on Toast

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    Where in Bedford?

    It's kind of crazy - when we left in 2016, we couldn't sell our place in Bedford for the life of us - I look at comparable homes on the market now and it makes me cry.
     
  4. Duggan

    Well-Known Member

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    We got our place in Fall River in September for 10% under ask, I still have no idea how. I mean the three level back shop does have a basement with 12" thick concrete walls and ceiling, and was likely a kill room, but a buck is a buck.
     
  5. Boots

    www.reality-check.ca

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    $560K
     
  6. TheOldskoo

    Huzzah!

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    546k, less than I thought it might go for. This one on Beaverbank Rd sold for 450K. Given the state of things, that's half reasonable.
     
  7. David Puddy

    yeah, that's right

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    nice.
    time and place mostly.
    theres a lull every so often where no one is shopping. so yeah we got in while there was one happening i think. we could throw paint on the walls and easily sell it for 150-200 more than what we paid
     
  8. David Puddy

    yeah, that's right

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  9. Arod

    Well-Known Member

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    That house never should have been listed that low to begin with. Comps look they are listed closer to the offer price anyway. Just a predatory realtor tactic.
     
  10. Gerald

    Well-Known Member

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    It also sold for $1,000,314, not the $1.3 that the article claims. It's not unreasonable for that neighborhood in this market.
     
  11. David Puddy

    yeah, that's right

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    markets will likely cool, and are already showing signs of cooling off. inventory should be interesting to see as people that were going to sell for big profits (me) will not see fierce competition.
     
  12. Kimvisible

    ♥ • ♠ ♣

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    I was listening to a podcast, did you know Canadians pay around $625 mil yearly in property tax to Florida ...would love to see the drop in that in 20 years...most cant afford homes, let alone a second
     
  13. 17

    17
    teenage dirtbag

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    it will. A lot of those properties will go on the market as boomers die off since they’re mostly owned by snowbirds who purchased them decades ago when they were cheap

    FL is experiencing the same growth in RE but I doubt it will correct if there is a correction due to its geography and being a “desire able” place to live


    imo
     
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  14. 17

    17
    teenage dirtbag

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    A house I looked at nearby and really liked 1.5 years ago sold for 460 then, just sold again for 700.

    its nice, but not 700 nice considering how far that would go 2 years ago
     
  15. boing

    Well-Known Member

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    My parents sold theirs a few years ago...(Property in Florida that is)
     
  16. David Puddy

    yeah, that's right

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    we have our house test listed now to see if we get a number we like. offers are in due in tuesday, will be getting a lease signed wednesday. terrible time to sell
     
  17. J0e Th0rnton

    Active Member

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    Yeah, 4 months ago would have been a different story
     
  18. David Puddy

    yeah, that's right

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    absolutely. that was the peak of the roller coaster. we have a ukranian family coming in two weeks that i think will rent from us
     
  19. J0e Th0rnton

    Active Member

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    aaaand a full point hike.
     
  20. David Puddy

    yeah, that's right

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    our next door neighbours and us talked about us buying their house from them from the last two years. they thought it was a great idea, they were downsizing, didn't need the space, it was right next store and a bigger version of our house (extended width wise 20'. it was perfect. we even suggested that they rent our house form them (smaller, perfect size) until they find their forever home.
    we finally had them over for dinner about 3 months ago and laid it out. we asked if they would sell to us, and they said they don't plan on going anywheres because theres no wheres available that they want, and the market is bonkers. We said ok, and bought a new house 3 weeks later.
    fastforward about a month from that. and now they are selling. they also don't know where to buy, so they're going to rent somewheres until they find a place to live.

    and now. they are likely going to get less money then we were willing to pay them, plus the 4-5% whatever to the real estate agent.

    so irritating.
     
  21. Kimvisible

    ♥ • ♠ ♣

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